CoreCivic enters new contract at the Tallahatchie County Correctional Facility
CoreCivic announced that it has entered into a new contract under an Intergovernmental Agreement between the Tallahatchie County Correctional Authority, Tutwiler, Mississippi and the U.S. Marshals Service at CoreCivic's 2,672-bed Tallahatchie County Correctional Facility in Tutwiler, Mississippi. The U.S. Marshals Service currently expects to house up to 1,350 prisoners under the new contract and may house additional prisoner populations at the facility, subject to availability. The new management contract commenced on June 14, 2018, and has an initial term expiring June 30, 2020, with unlimited two-year extension options thereafter upon mutual agreement. Taking into consideration an initial ramp period, we currently expect this new contract to contribute 2c to 4c of Funds From Operations per share in 2018, with a full year impact in 2019 of 6c to 10c per share.